Diverse transAtlantic high bandwidth connectivity provider, Hibernia Atlantic is set to build the lowest latency cable route from New York to London. Hibernia Atlantic (News - Alert) expects the build to be completed by the summer of 2012.

Once completed, the route will offer high frequency traders the unique latency under 60 milliseconds. Hundreds of global banks and financial exchanges are already benefitting from Hibernia’s Global Financial Network (GFN) that unites these businesses with a single connection.

Designed specially for the financial community, the GFN meets their demanding performance and reliability requirements. The company expects that Project Express will serve to strengthen the GFN as the fastest route across the Atlantic.

Bjarni Thorvardarson, CEO of Hibernia Atlantic, noted the exponential growth in the demand for low latency routes over the past many years. The new Project Express will offer the lowest latency from New York to London and provide demanding customers the speed and accuracy they require.

The new Express transAtlantic cable will also enable customers to reach other key financial cities. Moreover, it will offer lowest latency connections between Frankfurt and London and into Chicago, New York City and Toronto.

According to a press release, Toronto will now connect into London at sub 70ms. Initially, the Express, or the shortest route from New York to London will be lit with 40G technology. This will later be upgraded to 100G technology looking forward.

“The desktop study is complete, the vendor selection field has been narrowed and we’re ready to move forward with this project,” said Mike Saunders, VP of Business Development for Hibernia Atlantic. “Construction is second nature to Hibernia, having just completed another submarine cable, landing station and terrestrial network into Northern Ireland. Additionally, Hibernia owns and operates two transAtlantic cable systems. With our vast experience, this new venture is a natural fit for our business,” Saunders added.

In other news, Hibernia Atlantic reportedly acquired MediaXstream, Inc., a provider of transport and managed network services for the media production and broadcast industries.